Advisor Resource Council Invests $860,000 in The Allstate Corporation (NYSE:ALL)

Advisor Resource Council purchased a new position in The Allstate Corporation (NYSE:ALL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,153 shares of the insurance provider's stock, valued at approximately $860,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Allstate by 60.2% in the 4th quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock worth $1,253,000 after buying an additional 2,443 shares during the period. Revolve Wealth Partners LLC bought a new stake in Allstate during the fourth quarter worth about $231,000. Stenger Family Office LLC purchased a new stake in Allstate in the fourth quarter worth about $439,000. Principal Securities Inc. increased its stake in shares of Allstate by 12.5% during the fourth quarter. Principal Securities Inc. now owns 1,696 shares of the insurance provider's stock valued at $327,000 after purchasing an additional 188 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Allstate by 141.1% during the fourth quarter. Venturi Wealth Management LLC now owns 557 shares of the insurance provider's stock valued at $107,000 after purchasing an additional 326 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

Allstate Stock Performance

NYSE:ALL traded down $5.03 during trading hours on Wednesday, reaching $191.02. The company had a trading volume of 2,291,367 shares, compared to its average volume of 1,621,164. The firm has a market cap of $50.59 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.02 and a beta of 0.35. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The firm's 50 day moving average price is $200.91 and its 200-day moving average price is $196.53. The Allstate Corporation has a 52 week low of $157.48 and a 52 week high of $213.18.

Allstate (NYSE:ALL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The insurance provider reported $3.53 EPS for the quarter, missing the consensus estimate of $3.98 by ($0.45). The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $16.41 billion. Allstate had a return on equity of 24.62% and a net margin of 6.19%. The business's revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $5.13 EPS. On average, analysts forecast that The Allstate Corporation will post 18.74 EPS for the current year.

Allstate Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 9th will be paid a dividend of $1.00 per share. The ex-dividend date is Monday, June 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.09%. Allstate's dividend payout ratio is currently 27.32%.

Allstate declared that its board has initiated a share repurchase program on Wednesday, February 26th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ALL has been the subject of a number of recent research reports. Argus upgraded Allstate from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Allstate in a research report on Friday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Allstate from $217.00 to $222.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Wall Street Zen upgraded shares of Allstate from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Morgan Stanley upped their target price on shares of Allstate from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.20.

Allstate Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.